Egypt hopes reform will boost investment

Nazif: the prime minister hopes offers of investment from foreigners into new and existing projects will boost Egypt’s GDP growth

EGYPT’S GROWTH PROSPECTS are upbeat. Prime minister Ahmed Nazif said in February that the economy would grow by 6% in the next financial year. In September 2004, 5.5% growth for the current financial year was being forecast, up from 4.1% in 2003/04. Nazif attributes the brighter outlook to “the rise in levels of investment and new offers the government has received from international companies to establish new projects in the Egyptian market or to expand existing projects”.